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Did you know that Nigeria made 400 billion US dollars from the current oil windfall?

didnt knw dat.
u sure of the figure?thats quite alot

I heard it on BBC Hausa yesterday, Thursday 20th July 2006.
Wani rahoto ne the Crisis International Group ta wallafa, tana zargin gwamnatin Nigeria da rashin tsinana wa mutane komai da ga cikin abinda Nigeria ta samu  da ga man fetur.
Amma kuma, ba a fadi takammaimai ko kudin na wannan karan bane, ko kuwa from the time da a ka fara exporting.
Karshen ta abin da ta samu kenan from the time she started selling crude oil up to date. Amma that's not fair. It doesnt sound like a lot of money if thats the amount over a period of fifty yrs or more. Ko da yake Falillahil Hamd.

Sincerely, if the report is really genuine, I can, as a Nigerian, only say: "ALLAH YA ISA" because these money are absolutely misused

$400 billion this year is a lot of money!
Read it longhand.
$4,000,000,000,000.

That's four thousand billion you wrote Dave!
The assertion was made by  Crisis International Group who wrote a report on the mismanagement of Nigeria's oil wealth and salient points were aired on BBC (Hausa at least) But I should think the world service must havesaid something about it.
Initially I thought the figure represented what Nigeria made or earned from the current windfall, it isnt an incredible figure, given that if Nigeria was fullu in charge of its oil resources and didnt have to rely on foreign partnership (shell etc), she may make that much from the oil windfall ( i think so anyway I have no proof). But as I understand it now, the figure probably represents the sum total of what Nig may have earned from the time she started exporting crude oil.
The news did not specifically name a time period in which the money was made, but it repeated some of CIG's criticisms on how the nigerian govts have not catered for the welfare of the people in terms of basic necessities. I was initially so shocked to hear the figure, that the rest of the BBC Hausa news went above my head. However, I listened to it again and it sounded like biased reporting, as if it intentionally wanted to plant the idea of the money having been earned in this short period of time.

So it is. I stand corrected.
I think you'll find it refers to this years government revenues from oil.
Britain has raked in ?180billion from Scottish Oil due to the very high price of oil (nearly $80 per barrel).

David McEwan Hill

lemme do the math
2.5million barrels/day @ an average of $60/barrel for a time period of ?days........wow u guys might be right
i guess when u deduct cost of production etc what we have left culd be about $50 billion(conservatively ofcourse.)

lemme do the math
2.5million barrels/day @ an average of $60/barrel for a time period of ?days........wow u guys might be right
i guess when u deduct cost of production etc what we have left culd be about $50 billion(conservatively ofcourse.)

Quote from: "Dave_McEwan_Hill"
Britain has raked in ?180billion from Scottish Oil due to the very high price of oil (nearly $80 per barrel).

Your ppl will feel the trickle down effects of the ?180billion put to some good use while my ppl will feel the trickle down effect of the lack of the $ 400 billion put to any suitable usage :(  :cry:

The sum of $400 billion is not a small amonut o!
That is FOUR HUNDRED THOUSAND MILLION DOLLARS we are talking about  :roll:
In Naira that would sum up to N5.2 X 10e13
This equals N52000000000000
Well i cannot read it in words maybe someone can help.

I think the BBC made a mistake in reporting the figures

No mistake in the figures from the BBC - which leads me to say that the people of Nigeria should be told what is happening to this revenue. I suspect a lot of it will, as usual, be making its way into Swiss, American and British bank accounts.  
Dave McEwan Hill

And we are being told that Nigeria has a foreign reserve of 30 billion dollars only!!!!

Quote from: "HUSNAA"And we are being told that Nigeria has a foreign reserve of 30 billion dollars only!!!!

Classic 'chop and quench' :roll:

I honestly believe that our elected government officials do not go to work to WORK anymore.  The only way many of them amass the kind of ridiculous wealth they have is by waking up everyday and looting. In fact, when they go to sleep at night, they are planning the next day's looting.

When Obasanjo appoints his PDP allies to high office, I bet this is what he says to them on over the phone.....

Obj: Oya make you too come and help yourself.  Just make sure you do it
         judiciously...hahhahahaha!!!!!  

Appointee: Ah, Baba, tenk you sir....


Obj: Ahh!!, don't worry.....If we don't shop our own things, who will shop it
      for us?  (General laughter...Hahahahahaha!!!!!)

PDD stalwart: Mr. President, we have always believed your decisions are
                    inspired. I swear.  Even when I first joined the party, my
                   own father called me and adviced me for several hours to
                   always listen and support you because you have a the
                    vision....

Other PDP members (clapping): True talk, true Talk.


OBJ: ah....thank you,. You people are the leaders of tomorrow. Just keep
       on taking care of yourselves. There is plenty sugar for all of you.
        Just do it Judiciously.......